39 Comments
 

Hey gl with it all but Deutsche currently has a hiring freeze in place, they might still have summer analysts but offer rate will be very very low even if they hire. I wish you the best, but extend your options and put more focus on other places; it's only going to be better for you in the long run

 

Respectfully I have to disagree, even if they're not losing $14B due to the fine, it is still doing to be closer to $7B at least (only $3B of which they have allocated thus far). Literally the fine rn is 2/3 of their entire market cap, which is just absurd, but losing $7B will be pretty crippling. Also they cut 10,000 jobs in addition to the hiring freeze, and are also considering pulling back significantly from US IB in order to both cut costs further and to avoid some higher levels of regulation. OP, just make an informed decision whatever you do

 
  1. Hiring freeze means they're not allowed to add any new headcount, not that they're not allowed to hire anyone.
  2. You have no idea what the final fine is going to be, so saying anything at this point is speculation. Also given the possibility of a bailout it's highly unlikely that the litigation will "cripple" DB.
  3. The fate of DB's IB rests on the firm's ability to continue to win mandates, and it's doubtful that they would start scaling back their highest margin business arm in response to higher level corporate concerns.

It's probably gonna be rough from a bonus standpoint, but DB is probably still gonna be ok so telling people that they're fucked if they take it is pretty alarmist.

 
Best Response

Lol all of this is in the news itself:

1) Yes, that's what a hiring freeze means. And yes you can see this in the news. Again, perhaps they will take a few, perhaps not. The company is allowed to change this policy if needs be, but chances are that they will take very, very few to return. 2) No, I don't necessarily know exactly what the final fine will be, but this $7B figure is from comparable fines that Citi and MS paid several years back. Moreover, it is a reasonable number agreed upon by several different sources, both in government and outside analysts. Look it up if you like. 3) Yes, there is a potential plan for the company to scale back IB in the US that they are considering, again this is in the news. Not saying this will happen, but it is one point of consideration in addition to cutting costs that Deutsche is looking into.

None of what I said is random speculation; it is pretty reasonable to consider. It is very possible for a bailout to occur, but even so we have no idea what the restriction of that bailout might be as to what Deutsche will be doing going forward. All I'm saying is that there is a very high degree of uncertainty and a lot of risk with Deutsche. To OP, there is a large degree of risk if he/she lands Deutsche. All I'm saying is take these risks into consideration and go from there

 

Analysts are quoting ~$5.8B which they can easily handle. This is baked into their stock's price (ex - their stock pops when estimates for the settlement are favorable).

I have no comment on what their hiring situation is going to look like, and unless their M&A practice is losing money (very unlikely), it doesn't make much sense strategically to cut a strong, EBITDA-generating function.

 

I interned in their ibd in nyc this summer. Last year the return rate was almost 100% unless you messed up something (didn't do the final project, didn't know what IB was in the middle of your internship, seriously) but this year's rate was very unfavorable :(

 

They are at the bottom of the BB list but still a BB nonetheless. If you any other BB/EB offers you should take it instead of DB but if not, you should make what should be an obvious choice. Besides, DB still is a good credit house and their LevFin/FSG are solid

 

Bump. Any Color on the superday format/ common questions would also be appreciated. This is for the full time corporate finance Analyst graduate program in NYC.

 
HungryBruinMonkeyhow the hell are bulges not done yet?

elite boutiques wrapped up like a month ago..this really shows BBs are falling to shit loll

lolll so false. I received a FT offer from an elite boutique last Friday before my BB interview. So, your point is void

 

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